XBRL for Granular Data a Focus at Data Amplified
There is increasing interest in granular data from financial regulators worldwide. There is also an increasing use of structured data using XBRL taxonomies within very large data collections, including inside enterprises. Combined, these new developments mean that our standards need to provide new ways to exchange information in highly efficient ways.
It needs to be possible to move thousands, and often millions of facts around using compact and yet meaningful data.
The XBRL International OIM Working Group is focussed on these issues at present and will be discussing (and working on) them at Data Amplified in Shanghai.
xBRL-CSV combines the exceptionally efficient CSV format, with the XBRL benefits of taxonomy- backed structured data, including validation, dimensional data point definitions and multi-lingual data descriptions. All the benefits of standardisation, including a large ecosystem, formally provable data and definitions; combined with highly efficient formats. It sounds like a great step forward. Interested? Don’t miss Data Amplified!